Canada’s Real Estate Mismatch Between Supply and Demand

Dave and Steve Saretsky on Canada’s housing mismatch: plenty of condos, but most buyers still dream of detached homes.

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 The listeners often still equate housing with houses, detached homes. And on that front, we haven’t been building too, too much. I mean, and one of the big issues we’ve had is the supplier you’re referring to is primarily the condo market, at least in the major centers. And I’m not sure it’s matching up to what people really want, like rewriting the wealthy barber.

What an amazing learning. Experience going back out and we say all generations are so different. You know what? They really aren’t like. The conversations I was having with people in their twenties and thirties in terms of their desires, their hopes, their dreams weren’t a whole lot different than the ones I had 35 years ago.

Putting the initial book together, and most of them still want a detached home. They certainly aren’t buying these very small condos when they’re thinking of raising a family, getting a spouse, and so on and so forth. So that mismatch of what we’re supplying to what we’re demanding worries me. What they’re really looking for is a detached tome that’s relatively small and they can get going that way.

That’s what they’re really looking for and nobody’s come up with an answer to how do we make that work mathematically?

Yeah, that’s a great point. I mean, I see it all the time with just like our younger clients and you know, they want to get on the housing ladder, but they’re like, they’re like, well, but like I wanna get on the housing ladder, but all I can afford is a one bedroom condo. But I can’t really like. Start my life or raise a family in this one bedroom condo.

So like what do I do? Do I just do, I just rent until I can eventually afford a three bedroom townhouse?